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20121201
20121231
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CNBC 4
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Search Results 0 to 3 of about 4
CNBC
Dec 19, 2012 9:00am EST
months starting with the automaker purchasing 200 million shares by the end of this month. phil lebeau has more. >> carl, you can almost hear the sighs of relief coming from the gm headquarters in detroit. they have been calling for this for some time. here's what's going to be happening. you mentioned that the government is going to be exiting general motors, not happening all immediately. it's going to take some time, 12 to 15 months. they're going to do a dribbleout is what they're saying. gm is purchasing 200 million shares from treasury at $27.50 a share, about $5.5 billion. and treasury will sell the remaining 300 million shares through various means. that disposition, as we mentioned, earlier we heard from the head of the t.a.r.p. program, they're going to be starting to eliminate the gm shares in january of next year. so starting next month. remember, treasury originally invested $49.5 billion in general motors back in 2008 and 2009. and if we take a look at shares of gm going back to the ipo, remember, the ipo price was $33 a share. for the government to have fully made back a
CNBC
Dec 19, 2012 7:00pm EST
to dump its remaining stake in general motors at a big loss, sizable loss. phil lebeau joins us again. 12 hours later, there you are, here i am. >> it's interesting what the exact loss will be. we won't know until the government has fully unloaded its entire take in general motors the treasury department owns 500 million shares of general motors. today it is selling 200 million back to gm at 27.50 a share, that's an 8% premium compared to where the stock traded yet. 300 million shares remain. they'll be unloaded systematically by mid 2014. the treasury will not recover all the $49.5 billion that it put into general motors but it will lower its investment stake. this is a pie chart that really shows how much of a stake the different stake holders have here. the government will now have 2 -- 22% once it sells its shares back to general motors. they're going to have $38 billion in liquidity. the company will be underneath the t.a.r.p. pay restrictions. gm shares got a nice pop. they closed at 2718. that is the high going back to february of this year. we were wondering if they close over 27.
CNBC
Dec 7, 2012 9:00am EST
to fill jobs in their second and third sits. phil lebeau is live with more with this fascinating shifts. >> they say, there's no way. if people want a job, they should be able to find one. really? they found many places where they're trying to hire like here. go to indiana where if you look at the state unemployment rate, yes, it has come down from the peak of 10.8% back in 2009 but it's still above the national rate at 8%. we wjt down to bloomfield, indiana, which is just south of bloomington, and down there is metal technologies incorporated. this is an auto parts supplier. they make oil pans that then go on to top tier suppliers. they have four to seven job openings that they cannot fill. they struggle to fill their second and third shifts. part of it is because they can't find people with skills. part of it is because they've offered jobs to people who have said, no, thanks, i'll stay on unemployment. >> it seems like with the unemployment as high as it has been it shouldn't be hard, but we have situations where people either aren't interested in working or they don't fit our our ne
CNBC
Dec 10, 2012 9:00am EST
cars few in the industry have ever seen. phil lebeau is in chicago. i guess essentially, phil, the europeans are taking a leap out of the americans' book. they used to scoff that the american automakers would offer. now it's par for the course. >> especially in december. it used to be lexus, but mercedes-benz was looking for offers in november. this is an increase compared to october, up 42% for bmw, 26% for mercedes, lexus up 3%. what's going on here? let's start with bmw. their holiday deals now include up to five months of no payments. that's the kind of stuff you used to hear from chevy or from ford. by the way, bmw sales surged 45% last month. mercedes leads bmw year-to-date by just under 1,900 vehicles. it last led the u.s. luxury sales in '99. it really wants the title again. at the core of what's happening between these two german automakers, they need strong sufficient sales to offset the weakness they're seeing in europe. that's why their production has been ramped up here at their facilities in the u.s. bmw announced it's on pace to set global sales of more than 1.7
Search Results 0 to 3 of about 4